tv The Willis Report FOX Business September 8, 2013 10:00pm-11:01pm EDT
that is our show, thank you for coming. we will see you next week. [applause] [cheers] dream. have a great weekend we will see you on monday. gerri: tonight on "the willis report." a new report, much obamacare will cost you and it comes down to your zip code of sales taking a fast track to use security expanding the program and who was up in arms? a new survey of college freshmen period they want to get into harvard you cheat. those stories and more coming up tonight. gerri: all that and more coming up the first to the
top story, markets dodging a flurry of headlines to highlighting a a record million dropping out of the labor force followed by a vladimir putin as comments russia will continue to send weapons and aid if the nation is attacked from the summit and where would we all be without uncertainty from the fed? 3b with crucial analysis research fellow from the american end enterprise institute and hillary kramer chief investment officer. welcome to all and it is great to have you. a huge move in the market of to madrid 20 points i had whiplashed just watching and it is hard for the individual inveors to know what is the most important things?
syria? putin? what should we pay attention to? >> it is a combination of the streets and the traders had whiplashed was frightening but here is the answer the fed is a very important component because it applauded the $85 billion mortgage backed securities but the employment report was dismal and that means qe2 would not end next month which is why the market went up. gerri: let's ask alex we had 3.7 percent unemployment rate with 165,000 jobs and the number that really stockout the labor participation rate of 63% is the worst since the 18th 78. what did you make of this?
>> is bad news. the headline might look like it is not so bad but the employer rate did cut down a notch but those who looks at the report says the same thing we see bad news with the labor numbers not just how low it was in august but the revisions of the past two months. with the deceleration things are starting to slow down. with a slower pace we should go act twice this rate so the number that i saw that went up was the uptick of the long-term unemployed which is the area of a lot of concern. gerri: you said everybody thought this was a bad report but the labor
secretary thought it was pretty good. i thought one of the things i thought i that the market is a total head fake because it is all manufactured they not trust what is going on. that is why the market has been on fire and you analyze it you see that markets are going up so that is weird coming together of factors a would you tell people they should make of this strange market? >> it depends if you are a surfer or a sailor if you ride a the momentary waves as a timer or the active participant white is going on right now is worrisome but if you are a sailor not paying attention to the waves but the tides we will
be a hot -- stronger and healthier enomy but you have to have patience and a strong stomach. gerri: looked up the long term did not worry about every movement but you said something interesting about the consumer being tired. everybody looks at that positive news whether their retail nbers or the automobile numbers you say this might not continue? >> when we receive the numbers on back-to-school spending we're already through earnings season to show how resilience the consumer is but it is tired and ties into the fact it is not working or underemployed sohat will drag on the economy. there is a connection will
be go into syria? it impacts every sector of our e economy, airline tickets go up, a transportation, the cost of goods such as chemicals. the economy could weigh heavy if we do straight to -- start to strike and syria gerri: what are you concerned about for the futureor this economy and markets? a lot of people wait for that market with the economy crystallizes, what is it your crystal ball? >> when i think back to one year ago as we went into the fourth quarter of last year we felt the head winds coming out of washington and we were all talking about the fiscal cliff.
a potential huge cliff cut off with spending and higher taxes. here we are again when year later headed into the fourth quarter again facing uncertainty and risk. part of that comes from syria with how congress will respond to the issue or how the president will respond or the the labor market news this morning and against another debt limit fight. gerri: i think government throws its big shadow over everything. we talk a lot about bonds i think they're very important what do you have to say the treasury's or corporates? what do you tell your investors about this? >> we are clearly already in
the beginning of the interest-rate rise that everyone has bet worrying about the last couple of years. weir's seeing the beginning trend as the economy continues to revolve we will see interest rates move up and as a happens, long-term bonds treasury or corporate or municipalities, and they will suffer and worst most consumers understand. they thought they lost a lot of money in 2008, they haven't seen nothing yet. we're worried about the bond market not because of the market themselves fable still get financing but what will happen to those bond holders in that environment? what does your crystal ball tell you? >> the equity market is still the best place to be not just fiscal stimulus but
we are the strongest country in the world you do want to buy financial and goldman sachs is still cheap jpmorgan that is where you want to put your money with a dividend yield and if the rates do rise the financials do well we will see some global recovery and that creates many for the bank. gerri: think you so much. great to see all of you. we have a lot more to come including the gsa to get through security for a price. a new report on how much you will pay for obamacare. it depends on where you live. live. stay with us.
health center policy at the heritage foundation. chris, to be share it shows nine states will have increased, five will have a decrease it depends on your cost right now but are you surprised estate like mexico will see an increase like this? >> unfortunately no. candidate obama when writing promised his plan would cut premium by $2,500 instead the average employer plan has gone up over $3,000 since 2009 when he was elected so we continue to see these increases in unfortunately those mandates will increase costs for those who buy their own insurance. gerri: and those are the most price sensitive because they don't have coverage so it is a double whammy. >> exactly. people who buy health insurance coverage on their own don't get a tax subsidy
subsidy, don't get a subsidy from their employer, with the new mandates of obamacare could mean the difference being the dierence to afford coverage or not affording coverage. gerri: there is talk about the and so-called navigators to show the way and hold our hand with the changes. they just raised the amount of money of $67 billion they are finding money under cushions -- cushions but they're hiring planned parenthood kevin said national urban league to do this. all the usual suspects. is that -- is this just a big gift to those that supported obamacare in the first place? >> it is very concerning. of the damage -- the administration reduced one-third of trading hours to complete from 30 hours
down at 26 you could now be considered the obamacare navigator. they don't have to undergrowth background checks they to be asking for personal financial bait bait, health information and there could be schemes associated with this. gerri: tis will work so well. i can tell already. it is astonishing i guess nobody did know hollywood workout because they did not read the bill. "politico" running the story the administration spending $12 million in the states with republican governors across theountry to push for word obamacare to advertise the bow like pennsylvania, arizona, texas pennsylvania, arizona, texas , florida, one dozen red states. is this not just a big political move that?
bid if they tried to sell the unpopular law and the only thing that has been bipartisan from the beginning is the opposition we have seen moderate democrats have abandoned support comment max baucus called it a train wreck the wall street journal's shows a disapproval is at an all-time high. god bless them for trying but it is not likely to succeed at a time of a trillion dollar record deficits do we have to spend more money to sell a law that the people don't want? it. gerri: all the promises whether you save money on your premiums or keep your doctor, all of those have gone by the wayside. but the problem is i don't see how you roll this back now that entire industries have restructure themselves to accommodate.
>> that is why the heritage foundation we support congress taking action this fall to defund obamacare before the exchanges and subsidies go to effect on october 1st and then subsidies in effect jerry first ed new massive gusher of spending over the next decade that we cannot afford right now. gerri: so october 1st is looming the navigator's are trained m be. will at work? >> we have seen all sorts of delays, glitches, security ncerns, i would expect more of the same this is the unpopularnd unfair law and we will see more problems going forward. gerri: unpopular unfair and unaffordable.
that wraps it up. a huge number of harvard freshmen are cheating to get ahead. that is our works. how do you do that? the best way to avoid the travel fees from car rentals to hotels. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the pas and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. nascar is about excitement.
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the tea s.a. has a massive expansion of the pre-check program allows travelers to bypass airport security but it will cost you joining me now is our travel expert ceo of travel alliance media. i am part of the program you have to give that your fingerprints it is complicattd but they won 25 percent of travelers by the end of the year how big will this be? >> if you go through the pre-jack you can show of 20 minutes before your flight and get on the flight. night and day. where your jacket. gerri: coming back into the country through emigration hundreds of people through us. >> that is global injury so that is of a little different.
>> that is how we get to preach jack. >> now anybody can as long as they go to the process but in the past if you were a frequent flier you had to be a frequent flyer to be sponsored $85. absolutely over five years. gerri: so you can buy back your civil liberties if you talk about how much faster of the security lines where do you apply? >> the various airports the tea is a web site find out which are participating and find out what tax centers you can apply. gerri: pull up the false spring one ashley full screen except southwest. >> just about everybody else american and, if delta. >> now is outside of the airline scope anybody could become tea is a free qualified.
gerri: we promised we would talk about fees and some of these have never heard of before. >> a lot of people could be asked to doozy waiver that cost many if you have your own car insurance you're already covered if you are driving fire rental car or if you have credit cards you are covered as well. gerri: you can be covered more than once? >> you can duplicate. >> if you talk to a human beng and call-up to say i am confused there you go they will charge a fee. you don't want to deal with that the do-it-yourself or talk to a travel professional if you book with a package they can combine it and they don't charge a fee and then you get professional sites.
>> resort fees. gerri: this makes me so mad then just put it into my hotel bill. >> why are we having these fees in the business? because of the internet puts the price for word so what do they try to do? they show the cheapest price possible and then they get you on the back end of five-star luxury hotels charging resort fees when the customer would gladly pay this as part of the room that all they do is get into an argument than the customer has a bad experience. gerri: i paid them. >> about $20 it could be as much as $100 so though way to reduce the cost is if you do a connection. if you have to connect any way connected through dublin
and you will save some money because you will connect any way. then you get the departure tax. gerri: don't realize they the the bad taste in your mouse? >> and taxation of their representation you will find taxes in new york city that tax people like me to stay in the hotel because i will not vote for the people here. gerri: you have no voice. >> taxes and travel is not a good mixture. >> they have all been changed fees going from one headed 50 up at $2 then everybody would matchf you want flexibility go to southwest. gerri: sometimes you don't have control if you visit a sick parent or fast-food
chains and it costs hundreds of dollars. >> it is so aggravating you pay the difference of the fair but at least don't stick me with a feed. gerri: i agree. good to see you. figure for the information. what do you think? should we have to pay the gsa to get the civil liberties back? photo on the right-hand side of the screen. one said she was taken advantage of during a routine procedure in cheating to get into harvard? defines dearly half of the incoming freshmen have cheated find out what is going on. any last requests mr. baldwin?
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gerri: harvard incoming freshmen are honest when it comes to a bidding they cheated according to the campus newspaper it 10 percent of the class admit they cheated on the test in 42 percent have cheated on hallmark -- hallmark. we have our psychologist dr. tableau good to see you. are you surprised? >> not at all in fact, the numbers are higher than last year and i would expect that because of the number of social forces that encourage people to be fraudulent. gerri: like what? >> the extent we have lost sight whether it matters if you stay closto the truth truth, and the incredible
forgiveness we will extend to public of though i think it is the extent to what people fake like on facebook we are all racing a generation of narcissistic people who want to seem a -- as they have more a's than they are getting them. gerri: there is a huge cheating scandal one year ago in the school gets very upset they're not happy because it is a black guy and in between that time they have a quiz bowl and the wind was invalidated because when she did. if he think about those kids going to harvard will they clean up the trash? know they will run the country.
these are the people we are relying on for leadership positions. >> you cannot have integrity without autonomy we have a culture that takes autonomy from people and encouraging them to be dependent on the system. when people realized it does not intend for them to take charge of their lives, for them to dictate their own moral code they have contempt for the system we will raise our generations of people with contempt. gerri: you are telling me these harvardids feel disenfranchised? >> right now there are so many forces that don't encourage you to take control. decide what you stand for a and it is as true at harvard or a street corner in
chelsea massachusetts with the lowest per capita income of this day and unless we encourage people to believe in paying this and speak when they care about they would not care if they have cheated a little bit. gerri: do think the country is too comfortable with cheating? i understand your broad pitcher bridges they think it is normal to cut corners? i play golf. people cheat all the time. >> h. sheets on their taxes, they keep in business and in school. there are many forces that lead to stop the one is not empowered, but secondly where are they cheating? american high school but a lot of that homework makes no sense the teachers are not teaching and they cannot get their heads around why does it matter if i learn it
anyway? they are right because a lot of it is nonsense that they don't need to learn anyhow and they wonder why would i? >> those kids to harvard have the best teachers in the world and they should be able to figure out what they have to learn. >> but don't be astonished to will get worse. gerri: date you for that upbeat message. [laughter] cheating is not the only scary thought but managing finances keeps their parents and some students up at night and a new survey of college freshmen shows scary statistics that is for the top five. buying things they cannot afford. the love to go on shopping sprees with their friends others are horrified by
their spending habits save either spent too much or too little thinking they have to go into debt more than 40 percent of freshmen thinking drowning in debt is the only way to get an education. unbelievable overdraft fees are zero basic set of 10 think it is better to pay the overdraft fees van put off spending cash and the number one scary thing is worrying about that in the 80 percent are stressed out while it is a good thing they are aware of their habits it is not a way to live. starting september 16 we will bring you a user's guide to education. talking about how to afford college, should to go and all the important information had to get your bang for your but? september 16.
a hospital employee goes under honesty -- amnesty said to find out co-workers at put stickers on her face and took pictures. is a legal? my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. and make your business dream a reality. if you've got it, you know how hard it can be to breathe and man, you know how that feels. copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours.
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gerri: wonder what goes on under anesthesia? fellow co-workers and decorated her face with stickers of a black moustache and tears then took her picture she is suing the hospital but did she have a case? and our legal analysts, tell us about the details. >> she was in the operating room, an employee of a hospital. gerri: 13 years. >> there was familiarity
they played a practical joke because when they removed whenever it was there was no background. >> she was under anesthesia there was no practical joke she was completely dead to the world at that moment definitely she has a case. >> looked at the law called intentional infliction of emotional distress that is with the conduct that is shocking. >> i think that is shocking. this woman is unconscious i love that when you make my case. >> the traditional case if a spouse if a woman is raped or a child witnesses and it has to be intentional. >> that is intentional. they put that on facebook.
is intentional. gerri: sold dr. yang is a registered physician and an anesthesiologist and he finds the time in his busy work day to not only put this on the the woman buck had to cut out a and color the stickers not even a 12 year-old would do. it is so outrageous. >> from a legal standpoint he should be disciplined groth but what is the long-term? >> we really mean is fired and reprimanded. >> what will they give her? >> for what? there is a residual harm. >> and so what? so just give up all your rights? when i go under the needle? >> don't they should be more embarrassed those who did
the prank? gerri: apparently this has happened before because they have a report of the medical device salesman taking pictures of naked patients. >> rob rob wrong if she is marshy will bring all the people id with a nice big walls -- lawsuits. >> i do not condone that. [laughter] i do not think that is a optional if it happened again and makes the worst a go back first of all, she brings the case as jane doe says she is protected now she is all over the place. there is no way for the media to find out i think it was her lawyer. gerri: now we blame the lawyers. [laughter] is that outrageous conduct? gerri: i appreciate your saying but i don't think it
should be a money settlement i don't think it should be a court case i think the hospitals have to truly discipline. >> what did she go through? and she woke up. >> is embarrassing. >> but she put into the national context because if you bring the case as jane doe you have privacy. >> she never would be because they could never make her that. >> space-age the case is going to trial in jail your ears and that means there is no factual dispute so the case may not go to trial. >> you made it sound like that is the emotional every good lawyer makes that motion. be clear about that. he cannot leave them on.
>> not necessarily. >> thank you. gerri: and cut them down and color them to put them on a patient. >> what is going on at this hospital? >> is this something a court should take up as to other ways to discipline? >> the hpital should take a serious attitude. >> they should. should she get money. gerri: why? we have to go. [laughter] i've really enjoyed that. >> below plan the the moustaches in the greenroom. gerri: not on the weld bought. [laughter] technology changes the way we shop we have founders of the new site that tells you when the item that you want to go on sale. here rigo.
-- we go. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar
year. how does this web site work? >> we are a tool a little button that says in your browser you can shop normal so you go to lou j. crew or bloomingdale's said redefine the item you're interested in you click the button and tell us the size and color. gerri: you choose wheel like you do not buy a interested 80,000 users have already signed up and working with brand-name retailers and tell me about that. >> just over 100,000 we have over 500 retail partners on the side like j. crew or bloomingdale's or nordstrom's. gerri: i am so used to this and people like that so halt are you different? >> there are a few things we really do operate as a tool we don't try to change your
shopping behavior you don't come to our site to shop and we're not social. we felt very strongly that we get the whole world to know we are looking at the banks to make a one sale. [laughter] >> you have big money for the bank of boston others tell me about that. >> chairman and tyler were our lead investors without last round we're actually working out of their office frequently. gerri: anybody else? >> we do have big-name retailer investors as well they love the product because it is about three targeting the consumers. >> receives if i have been overrun 1 million pairs of blue jeans i could not sell that that is of great way? >> we are helping with that
and we have our own combined talents that is exciting because we give them a information about the 20% offer not necessarily bargain-basement but is in season and when can they get their hands on the goods it is a great margin before they have to market down. gerri: this sounds like pinterest where how you different? >> we new kid on the item he requests that we send you a certification about that specific item down to the size and color so we are a tool targeted information versus the inspiration board gerri: these websites are great but don't have a way to make money but you do have a way to me many on this that means he will be a viable business what is the
next up? >> we are working on an ad big fashion make a presentation with patricia field from? and this city so monday we will have the big presentation open to the public which is exciting because we like to say we bring real fashion to real consumers at the price point that makes sense for them. gerri: you can choose your prize san discount? you can ask for that? >> exactly everything is accessible fashion you can buy right then and there. gerri: on monday in new york city if you are around 80 for coming on the show. great job we'll be right back with the question of the day should we have to pay the gsa to get our civil liberties back? stay with us.
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isn't there a simpler way to explain the loyalty program? yes. standing by you from day one. now, that's progressive. ♪ gerri: earlier this hour we told you how the tsa is expanding its pre check program to 60 more airports for a total of 100. to be a part of the program it will cost you $85 for five years, and you can keep your shoes on. should we have to pay the tsa to get our civil liberties back? fears of some of your posting. scott says that tsa is just another bureaucracy and tax collector under the guise of protecting the traveler. another way for the government to fleece us so they can waste more money. we also asked the question on gerriwillis.com. 1 percent said yes, 99 percent said no. be sure to log on to gerriwillis.com for our on-line question every weekday. we will read some of your
e-mails. lane from ohio writes this about health care. the health care law has been so dissected for all of the special interest groups that it has no resemblance to what the government thought they were passing. it is being custom written one condition at a time based upon who and what the government wants to take care of at the expense of the pack stare. since people need health care, it is up to congress to listen to us, and people instead of big business and vested interest groups. it is these people that are stealing america blind. i have long said all laws should only apply to those who pass them for at least one year before they take effect on the rest of us. that is a great idea. we love hearing from you. send me an e-mail. go to gerriwillis.com. finally, market mayhem. it is a we talked about at the top of the show. the 200 points when today. the market acts sometimes like a mood ring.
what drove the mood today was the monthly jobs report. the unemployment rate fell. 169,000 new jobs were created, but the labor department said almost twice that number, 312,000 dropped out of the labor force entirely. that is the number that stuck out to me, and the number one thing we should be most concerned about, the labour participation rate now at a 35-year low. the biggest drop-off has, among younger workers, the millennium generation, the people who are supposed to be paying for our social security are being shut out of the limited opportunities that this economy has to offer. the white house today said the drop in the unemployment nber was a good thing. it only went down because some many people just quit looking for work. the current jobs recovery is the slowest in 50 years, 50 years. the people i want to see dropping out of the work force other people in the white house. that is my "2 cents more." at think you agree.
that is it for tonight on "the willis report." thank you for joining us. don't forget to record the show if you cannot catch us live. have a great night and we will see you monday. ♪ good evening, everybody. that y thank you for being with us. president obama today astonished most republicans and many in his own party when you stated that he did not set a red line on syrian use of chemical weapons. president obama said that the world instead had set a red line and asserted further that his credibility is not as stake now, as many of both his critics and supporters have suggested. president obama said his credibility is not at issue either. but rather, the credibility of congress itself. the white house issuing the red line ultimatum to syrian president assad at least